Fifth Ordinary Meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 5)

Main Information

Title

Individual transferable quotas as an incentive measure for the conservation and the sustainable use of marine biodiversity

Description

This OECD study discusses the use of individual transferable quotas (ITQs) for the conservation and sustainable use of marine biodiversity. When total allowable catches (TACs) are established for commercial fisheries, the rights to fish can be allocated through ITQs, which allow the holder to fish a certain proportion of total allowable catch. These quotas essentially define property rights over the resources, allowing the maximization of privately appropriable resource rents. The study emphasized that other complementary measures may be required as well to achieve the desired conservation aims, including regulations specifying minimum mesh size, conditions pertaining to gear and vessels, or limits on the number of days at sea; the reduction of subsidies to production, infrastructure and vessels, and the removal of barriers to trade; vessel buy-back programmes; incentives to conserve and sustainably use the surrounding ecosystem and particularly non-commercial species; and, as a last resort, moratoriums on over-fished fisheries. In addition, it was found that ITQs work best in small, isolated fisheries where there is some social cohesion and where education and re-training programmes are offered if necessary. It is essential to gain the cooperation and active participation of the involved fishers.